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Company News

Tsinghua Unic suspends trading of bonds in Hong Kong after Unigroup default

SHANGHAI, Nov 18 (Reuters) - Tsinghua Unic Limited said on Wednesday it had requested trading suspensions for three of its bonds on the Hong Kong Stock Exchange after guarantor Tsinghua Unigroup Co Ltd defaulted on 1.3 billion yuan ($198.47 million) in maturing bonds.

Tsinghua Unic said trading in the three bonds, worth a total $2 billion, would be suspended from 1:00 p.m. Hong Kong time (0500 GMT) on Nov. 18 and would remain suspended until further notice. ($1 = 6.5500 Chinese yuan) (Reporting by Andrew Galbraith; Editing by Muralikumar Anantharaman)

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